Abm broadens its technical solutions capabilities with acquisition of rapidly expanding ravenvolt

New york, aug. 18, 2022 (globe newswire) -- abm (nyse: abm), a leading provider of integrated facility services and solutions, today announced it has entered into a definitive agreement to acquire ravenvolt, inc. (“ravenvolt”), headquartered in alpharetta, georgia, in an all cash transaction. ravenvolt is a leading nationwide provider of advanced turn-key microgrid systems utilized by diversified commercial and industrial customers, national retailers, utilities, and municipalities. ravenvolt employs over 80 people and is projected to generate revenue of $70 million to $80 million and ebitda (as defined in the definitive agreement) of $17 million to $19 million in calendar 2022. the transaction is expected to close during abm's fourth fiscal quarter of 2022, subject to the expiration of the applicable waiting period under the hart-scott-rodino antitrust act and other closing conditions.
ABM Ratings Summary
ABM Quant Ranking